Vivara Completes Initial Public Offering on the São Paulo Stock Exchange (B3)
10.21.19
This is only gets display when printing
The Firm represented Vivara Participações S.A. (“Vivara”) and its controlling shareholders (the “Selling Shareholders”) in connection with the initial public offering of 85,025,979 common shares of Vivara (excluding common shares to be sold pursuant to the underwriters’ option to purchase additional common shares) on the São Paulo Stock Exchange (B3) at a public offering price of R$24 per share.
The offering raised R$453.5 million in gross proceeds to Vivara and R$1.6 billion to the Selling Shareholders. The shares were offered to certain qualified institutional buyers under Rule 144A in the United States, and to non-U.S. persons outside the United States in reliance upon Regulation S. Vivara’s shares began trading on the B3 under the ticker symbol “VIVA3” on October 11, 2019.
Vivara is the market share leader in the channel of jewelry and watch specialist retailers in Brazil, in terms of net revenue and number of physicals stores. Vivara designs, creates, manufactures and sells its products based on a vertically integrated and multi-channel strategy, and is present in approximately 90% of the Brazilian states.
The Simpson Thacher team included Grenfel S. Calheiros and Luiz Noronha (Capital Markets – São Paulo); Luana Torres (Capital Markets – New York); and Jonathan Cantor and Tyler S. Robbins (Tax – New York).